NEW YORK, Feb. 2, 2024 /PRNewswire/ — The digital asset management market is to grow by USD 11.93 billion from 2023 to 2027 progressing at a CAGR of 22.05% during the forecast period. The report offers an up-to-date analysis regarding the current global scenario, the latest trends and drivers, and the overall environment. The shift from on-premises to SaaS is notably driving the growth. Cloud-based storage services are increasingly popular across industries due to their managed file storage and disaster recovery solutions. They offer flexibility through IaaS, PaaS, and SaaS models, allowing organizations to tailor their cloud infrastructure. To meet demand, providers are developing solutions with features like drag-and-drop functionality and mobile access. They are targeting businesses of all sizes with affordable options and quick deployment, aiming to capture a broad market.
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- The increased adoption of analytics to manage digital assets is the primary trend.
- Data privacy and security concerns are the major challenges impeding the growth.
The digital asset management market analysis includes deployment (on-premise and cloud), end-user (large enterprise, small, and medium enterprise), and geography (North America, Europe, APAC, South America, and Middle East and Africa)
- The market share growth by the on-premise segment will be significant during the forecast period. On-premises Digital Asset Management (DAM) solutions provide robust features like workflow streamlining, budgeting, and reporting, making them ideal for large and complex operations. Their key advantage lies in granting businesses full control over critical data, enabling structured alignment of marketing objectives across various units, functions, or product lines. These factors collectively drive the growth of the on-premises DAM segment.
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The digital asset management market covers the following areas:
- Digital Asset Management Market Sizing
- Digital Asset Management Market Forecast
- Digital Asset Management Market Analysis
Companies Mentioned
- Acquia Inc.
- Adobe Inc.
- Aprimo
- Bynder BV
- Canto Inc.
- CELUM GmbH
- Cloudinary Ltd.
- Cognizant Technology Solutions Corp.
- Danaher Corp.
- Frontify AG
- Image Relay Inc.
- MediaValet Inc.
- Open Text Corp.
- Oracle Corp.
- PhotoShelter Inc.
- QBNK Co. AB
- Smartsheet Inc.
- TIBCO Software Inc.
- WoodWing Software B.V.
- International Business Machines Corp.
Acquia – The company offers digital asset management for marketing, sales, and e-commerce teams.
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Digital Asset Management Benefits
Digital Asset Management (DAM) offers numerous benefits for businesses managing their digital content. It enables efficient Content Management and Media Asset Management (MAM) through Metadata Management and Cloud Storage, ensuring easy organization and retrieval of assets. Digital Rights Management (DRM) safeguards intellectual property, while Workflow Automation streamlines processes. DAM facilitates Brand Management and Enterprise Content Management (ECM), fostering Creative Collaboration and Version Control. It excels in Video and Image Management, utilizing technologies like Image Recognition and Archiving for comprehensive asset handling. Search and Retrieval functionalities enhance accessibility, while Analytics and Reporting provide valuable insights. Integration Services and File Sharing ensure seamless operations, while scalability and security meet evolving needs. Mobile Access allows flexibility, and AI and Machine Learning enable advanced capabilities like Content Distribution, Rights Clearance, User Permissions, and Asset Tracking, making DAM a versatile solution for modern businesses.
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The Plant Asset Management (PAM) market size is estimated to grow by USD 2,016.89 million at a CAGR of 7.09% between 2022 and 2027.
The Enterprise Asset Management (EAM) Market size is estimated to grow by USD 2,046.52 million at a CAGR of 7.85% between 2022 and 2027.
ToC:
Executive Summary
Market Landscape
Market Sizing
Historic Sizes
Five Forces Analysis
Segmentation by Deployment
Segmentation by End-user
Segmentation by Geography
Customer Landscape
Geographic Landscape
Drivers, Challenges, & Trends
Company Landscape
Company Analysis
Appendix
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